Orbit sets $12M rare earths spin-off in motion

Notably, another hole drilled earlier this year hit the Quarry Lode, a zone of mineralisation sitting outside Lewis Ponds current resource boundary, with an intercept of 27 metres at 0.97g/t gold equivalent from 83m. The company believes bringing the Quarry Lode into the inventory could increase the project’s scale and support future mining studies.

Beyond its flagship Lewis Ponds project, Orbit holds a deep pipeline of prospects across more than 2500 square kilometres of tenure, including the Mt Aubrey project with its 62,400-ounce gold resource and the Copper Hill East porphyry target, which sits just 10km from a known 280,000-tonne copper and 750,000-ounce gold deposit.

Additionally, the company’s Cousin Jack prospect recently landed a discovery, jagging two broad sulphide zones: 79m at 1.3 per cent zinc equivalent and a hefty 104m grading 1.3 per cent zinc equivalent. Those hits also featured a higher-grade 1.7-metre intercept grading an eye-catching 13.1 per cent zinc equivalent.

The Matrix float is subject to several conditions, including ASX approval for Matrix’s admission and the company raising its minimum subscription target.

With two distinct companies, each with a clear focus, Orbit is creating one vehicle to chase gold and copper in a world-class minerals belt and another to ride the wave of government and industry support for the critical minerals that will power the future. For followers of the rare earths space, Matrix’s timing may prove particularly fortuitous.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au